Cisco’s journey hits a bump in the road with weak outlook and more redundancies

US networking giant Cisco announced it is adding 1,100 further job losses and forecast a 5% revenue decline for the coming quarter.
While Cisco insisted the short-term dip is at least partly due to the long-term transition the company is undergoing to derive more of its revenue from software and services (join the club), the markets were unable to forgive the weak outlook and had punished the stock to the tune of -8% at time of writing.
Revenues and earnings per share were more or less in line w